Alphabet (NASDAQ:GOOG) Cut to Sell at Vetr

Alphabet (NASDAQ:GOOG) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a research note issued on Thursday, December 28th. They currently have a $1,011.69 price target on the information services provider’s stock. Vetr‘s price objective points to a potential downside of 9.85% from the stock’s current price.

Other analysts have also recently issued reports about the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 6th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, September 29th. Bank of America reiterated a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research note on Tuesday, September 26th. UBS Group reiterated a “buy” rating and set a $1,080.00 target price on shares of Alphabet in a research note on Monday, September 11th. Finally, SunTrust Banks reiterated a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research note on Saturday, September 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $1,052.31.

Alphabet (GOOG) opened at $1,122.26 on Thursday. Alphabet has a 52-week low of $790.52 and a 52-week high of $1,124.29. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $782,040.00, a P/E ratio of 37.38 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the consensus estimate of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. During the same period in the prior year, the firm posted $9.06 earnings per share. The business’s quarterly revenue was up 23.7% compared to the same quarter last year.

In other news, Director Ann Mather sold 38 shares of Alphabet stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $1,017.21, for a total value of $38,653.98. Following the completion of the transaction, the director now directly owns 1,805 shares of the company’s stock, valued at approximately $1,836,064.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director L John Doerr sold 12,236 shares of Alphabet stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the completion of the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at $3,560,171.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,900 shares of company stock worth $37,877,147. 13.92% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of GOOG. Burt Wealth Advisors increased its position in Alphabet by 17.2% in the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its position in Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after buying an additional 5 shares in the last quarter. Archford Capital Strategies LLC increased its position in Alphabet by 400.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after buying an additional 832 shares in the last quarter. Almanack Investment Partners LLC. increased its position in Alphabet by 4.5% in the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after buying an additional 7 shares in the last quarter. Finally, St. Johns Investment Management Company LLC increased its position in Alphabet by 1,046.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares in the last quarter. 34.63% of the stock is owned by hedge funds and other institutional investors.

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About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

To view Vetr’s full report, visit Vetr’s official website.

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